MKTG6004 Lecture Notes - Lecture 9: Conjoint Analysis, Virtual Reality, Focus Group
15 Aug 2018
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Document Summary
The biggest cause of new product failure is that the intended buyer did not see a need for the item. It is in concept testing where we get confirmation that it will be a quality product. This is followed by an in-depth market analysis (after pic is approved) and the depth of the study depends on how well the firm already knows the market selected. This is then followed by concept generation through an initial reaction. There are times when concept testing does not help (when prime benefit is personal sense such as aroma of a perfume, taste of a new food). Concepts embodying new art and entertainment are tough to test. Whe(cid:374) the (cid:272)o(cid:374)(cid:272)ept e(cid:373)(cid:271)odies (cid:374)e(cid:449) te(cid:272)h(cid:374)ology that user (cid:272)a(cid:374)(cid:374)ot (cid:448)isualise it"s a (cid:449)eak tool as well. There are also times when firms mismanage the tool and then blame it. Lastly (cid:272)o(cid:374)su(cid:373)ers so(cid:373)eti(cid:373)es do(cid:374)"t k(cid:374)o(cid:449) (cid:449)hat pro(cid:271)le(cid:373)s they have (ipad).
